Hyderabad, Oct 29 (UNI) Laurus Labs Ltd on Thursday signed a definitive agreement to acquire a 60 pe

Hyderabad, Oct 29 (UNI) Laurus Labs Ltd on Thursday signed a definitive agreement to acquire a 60 per cent stake in Canada-based Galenvs Sciences for a proposed investment of USD 3.75 million, including a primary infusion of USD 2.75 million, to strengthen its oligonucleotide development and manufacturing capabilities. The proposed investment in the Montréal-based biotechnology company, specialising in precision magnetic nanoparticles and DNA/RNA technologies for diagnostics and therapeutics, is subject to due diligence, the Hyderabad based pharmaceutical company said in a release. The agreement sets a pre-money valuation of USD 3.5 million for Galenvs Sciences. The investment is aimed at…